Transacted Prices will give you an idea of the neighbourhood’s property price trend.

Analysis & Comparison

Analysis and comparison of average transaction, for sale and for rent prices for landed, non-landed and commercial properties within Penang *

* To provide you the most accurate information some columns may appear as ‘Insufficient Data’ due to insufficient transactions in the area

Non-Landed

Landed

Commercial

Avg Transacted Price

Avg Transacted Price(Psf)

Avg For Sale Listing Price

Avg For Sale Listing Price(Psf)

Avg For Rent Listing Price

Avg For Rent Listing Price(Psf)

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Penang is one of Malaysia's states, located in the northwest of Peninsular Malaysia. It comprises two parts – the Penang island, where the state capital of Georgetown is, and the mainland, connected by the Penang Bridge and Jambatan Sutan Abdul Halim Muadzam Shah, or the Second Penang Bridge.

The state's main industry is manufacturing; much of the mainland and the southern part of the island is allocated to industrial areas and the Bayan Lepas Free Industrial Zone. Penang also has a Multimedia Super Corridor Cyber City status. With the island's seasides, hill resorts and lush greenery, tourism is a vital industry too.

Recent years have seen affordable housing being planned and built in Penang's matured townships such as Sungai Ara, Balik Pulau, Gelugor, Tanjung Bungah, Tanjung Tokong and Georgetown. This is a huge plus point for first-time home buyers, giving them the option of staying closer to their workplaces at a lower cost.

The value of properties on the mainland of Penang also has seen growth, especially in the prime area of Batu Kawan with the opening of the Second Penang Bridge, indicating good potential for the mainland's properties.

There is an abundance of residential properties on the island – multiple high-rises and landed properties alike – being developed on existing and reclaimed land along the coastline, as well on inland hillsides. This gives buyers and investors the opportunity to make detailed comparisons of each property's features, and to select the property that offers high quality units and well-planned facilities at a suitable price point.

Main roads on the Penang Island include the trunk road, Route 6, that goes around the entire island, the Tun Dr Lim Chong Eu Expressway along the eastern coast, the Balik Pulau Hill Road and the Bayan Lepas Elevated Highway. The island is served by bus terminals in Sungai Nibong, Tanjung Bungah, as well as Komtar and Weld Quay in Georgetown.

On the mainland, the North-South expressway (NSE) can be accessed via Seberang Perai, leading to other cities and states in Peninsular Malaysia, while highways like the Butterworth Outer Ring Road (BORR) and Butterworth-Kulim Expressway connect various towns in the mainland, such as Perai, Sungai Dua, Butterworth and Kulim, Kedah. There is also a bus terminal in Bukit Mertajam and Butterworth.

Consumer Price Index

This is a representation of Penang Consumer Price Index (CPI) for the year of 2011 - 2015

Did you know?

A consumer price index (CPI) measures changes in the price level of a market basket of consumer goods and services purchased by households. (Wikipedia)

The Consumer Price Index (CPI) line shows an increment in prices of essential goods on a yearly basis, while the Percentage Changes line shows the level of changes in price increments over the years. For example, a dip in the CPI line may indicate a low level of price increment as compared to the previous year while a surge in CPI line shows a high level of price increment as compared to the previous year.

The above graph shows 1.742% of price changes in essential goods such as rice, meat and tobacco between the years 2011 and 2012, while increasing in difference to 2.093% in 2013. Prices of essential goods then increasing to 3.169% in the year 2014 while surging by 2.529% in 2015.

While the prices of essential goods have shown a variation in the Percentage Changes, the Consumer Price Index (CPI) on the other hand indicates a reality of ever increasing prices in essential goods with increments between the years 2011 - 2015 at 102.7 in 2011, 105.1 in 2012, 107.3 in 2013, 110.7 in 2014, 113.5 in 2015.

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